Invesco’s QQQ Gambit Seen Unlocking $150 Million in Revenue

Invesco Ltd.’s move to convert its famed tech fund QQQ into an open-ended structure could translate into a $150 million yearly windfall for the asset manager.

Chief Financial Officer Allison Dukes said on the company’s earnings call Tuesday that transforming the Invesco QQQ Trust Series 1 from a unit investment trust into an ETF could benefit net revenue and adjusted operating income by about four basis points — or roughly $150 million, Bloomberg Intelligence estimates. In its current format, Invesco sees virtually none of the fee revenue that QQQ generates, but ETF conversion would allow the firm to reorder the ...